The forestry sector is dependent on ecosystem services and stable climatic conditions, both of which are already being impacted by climate change. The entire forestry sector has high exposure to climate risks, however research by ZSL shows that most forestry companies do not conduct or disclose climate risk assessments and insufficiently report on sustainable forest management practices, which are necessary to achieve resilience and mitigation.
This report from ZSL includes data from the 2021 SPOTT assessments of 100 timber and pulp producers, processors and traders, to provide an overview of their disclosure of commitments and progress on climate change. Data suggests that a current lack of disclosures is a missed opportunity for pooling research, reporting costs and shared learning. Importantly, it creates unacceptable data gaps or ‘blind spots’ for financiers and buyers who need to consider their financing and sourcing’s exposure to climate risk.
The report also aims to inform risk assessments and provide guidance on how to approach creating a risk assessment.
In the face of the climate and biodiversity emergency, the world can neither afford to lose or degrade any more forests, nor can it afford to pass on the opportunity to restore them in order to achieve additional cost-effective mitigation. ZSL believes that forestry companies not only have a duty to sustainably manage the assets they depend on and protect them as much as possible from climate impacts, they are also uniquely positioned to do so.